On August 21, 2009
AIG: The Optimistic View from Croatia
The newest CEO of American International Group, Robert Benmosche is vacationing in Croatia where he owns a “breathtaking” million-dollar villa. But that didn’t stop him from hyping his new company and boosting its stock price, perhaps a bit more than he should have. Benmosche told Bloomberg News he thinks AIG will be able to repay the money it owes to the U.S. government and that it “will be able to do something for our shareholders as well.” That tidbit sent the stock soaring again. It rose to $35 before retreating, capping a run that started with the rumor of Benmosche’s appointment when the stock was only $13.52. Are the optimists who are betting on the direction of the shares right?…
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